Docusign Envelope ID.. 6DADCFEF-E1744EB&923f&29CC8A20299A Charity number: 1112972 THE SHOE ZONE TRUST Annual report Year ended 31 December 2024
Docusign Envelope ID.. 6DADCFEF-E1744EB&923f&29CC8A20299A THE SHOE ZONE TRUST CONTENTS Page Reference and administrative details of the Charity Repoit of the Tiuslees Independent Examiner's Report Statement of Financial Activities Balance Sheet Statement of Cash Flows Notes to the Financial Statements
Docusign Envelope ID.. 6DADCFEF-E1744EB&923f&29CC8A20299A THE SHOE ZONE TRUST REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY Trustees MrA 8mith Mr C Smith Registered office The Shoe Zone Trust Haramead Business Centre Humberstone Road Leicester LE12LH Registered charity number 1112972 Bankers HSBC 2-6 Gallowtree Gate Leicester LE11DA Natwest 1 Granby Street Leicester LE19GT Independent Examiner Glen Bott FCA Cooper Parry Group Limited Cubo Birmingham 41h Floor Two Chamberlain Square Birmingham B3 3AX
Docusign Envelope ID.. 6DADCFEF-E1744EB&923f&29CC8A20299A THE SHOE ZONE TRUST REPORT OF THE TRUSTEES The Trustees have pleasure in presenting their report and the financial statements for the Charity for the year ended 31 December 2024. The Trustees confirm that the report and financial statements of the Trust Comply with the Charities Act 2011, the requirements of the Foundation's governing documents and the provisions of the Statement of Recommended Practice ('SORP") "Accounting and Reporting by Charities" applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102). Constitution of the Charity The Shoe zone Trust is registered wilh the Charity Commission for England and Vvales as an Unincorporated Charity with the governing document of a declaration of trust dated 1 November 2005. The Charity is administered by the Trustees listed on Page 1. All of them served throughout the year. The Trustees meet at least quarterly. Method of appointment or election of Trustees The m2n2gement of the Trust is the responsibility of the Trustees. Charles Smith 2nd Anthony Smith It is intended that the Trust's board of trustees should consist of at least 0, but no greater than three, members. Objectives of the Charity The objectives of the Charity are to make grants and donations to other charities to relieve financial hardship and poverty andlor advancement of education, mainly for children and young persons under age 18 particularly in Leicestershire and Rutland and for certain charities operating in the Philippines and other countries. This is reftected in the range oforganisations that benefitfrom grants and donations given by the Trust, most of which have long standing relationships_ The Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit. The Charity does not carry out any fundraising activities. Achievements and Performanc8 In the year to 31 December 2024, the Trust made grants and donations totalling £357,418 {2023'. £281,702). The largest donation of £69,410 was made to the Shepherds of the Hills in the Philippines, whose aim is to benefit underprivileged children who have been abandoned, neglected or abused. Donations were also made to Ministries Without Borders. a maternity clinic and care provider for malnourished and abandoned children. Other significant donations were made to MiracleFeet, a charity that increases access to proper treatment for children born with clubfoot in low- and middle-income countries through partnerships with local healthcare providers. Financial Review Income of £588,649 was receivable. Grants and donations of £357,418 were payable. Funds carried forward are £1,514,813 (unrestricted £1,514,378, restricted £435). 2023 total funds carried forward were £1,283,582 (unrestricted £1,280,009, restricted £3,573). No salaries or expenses were paid to the Trustees. Reserves Policy The Trust does not currently have a reserves policy. As Shoe Zone Retail Limited provides the Trust with annual funding, and the Trustees regularly review the balan available to Ihem. including any anticipated future grants to be considered and other costs, a reserves policy is not considered necessary. The unrestricted funds are £1,514.378. These were retained for commitments for grants in 2025.
Docusign Envelope ID.. 6DADCFEF-E1744EB&923f&29CC8A20299A THE SHOE ZONE TRUST REPORT OF THE TRUSTEES Risk Factors The Trustees regularly review the major risks to which the Charity is exposed, in particular those related to the operations and finances of thc Trust, and are satisfied Ihat systems and procedures are in place to mitlgate exposure. Major risks that the Trustees have considered and have taken steps to mitigate include having a robust assessment and monitoring policy, including regular updates with the charities, to ensure that grants made are for work which is considered charitable. Plans for future periods The Trustees will conlinue to review the Trust'swork during the coming year and continue to offer grants ba%ed on decision£ m2de by the Trustees. Statement of Trustees Responsibilities Trustees are responsible for preparing a Trustees, Annual Report and financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). The law applicable to charities in England and Wales requires charity trustees to prepare financial statements for each year which give a true and fair view of the stale of affaiis of the charity and of the incoming resources and application of reSoUrs. of the charity for that period. In preparing the financial statements, the trustees are required to- select suitable accounting policies and then apply them consistently: observe the methods and principles in the applicable Charities SORP- make judgements and estimates that are reasonable and prudent. state whether applicable accounting standards have been followed, subject to any material departures that must be disclosed and explained in the financial statements., and prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business. Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the Trust and to enable them to ensure that the financial statements omply with the Charities Act 2011, the applicable Charities (Accounts and Reports) Regulations and the provisions of the Trust deed. They are also responsible for safeguarding the assets of the Trust and taking reasonable steps for the prevention and detection of fraud and other irregularities. This report was reviewed and approved by the Trustees on 201h October 2025 and signed on their behalf by= Mr C Smith
Docusign Envelope ID.. 6DADCFEF-E1744EB&923f&29CC8A20299A THE SHOE ZONE TRUST Independent Examiner's Report For the year ended 31 December 2024 I report to the charity trustees on my examination of the accounts of the charity for the year ended 31 December 2024 which are set out on pages 5 to 11. Responsibilities and basis of report As the charity's trustees you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act.). I report in respect of my examination of the charity's accounts carried oul under section 145 of the Act and in carrying out my examination S have followed all the applicable Directions given by the Charity Commission under section 14515)(b) of the Act. Independent examiner's statement The charity's gross income exceeded £250,000 and l am qualified to undertake the examination by being a qualified member of the Institute of Chartered Accountants in England and Wales (ICAEW). I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect.. accounting records were not kept in respect of the charity as required by section 130 of the Act,. or the accounts do not accord with those records, or the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a 'true and fair view. which is not a matter considered as part of an independent examination. I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. S4r by.. EBB15CCA03ANA GLEN Borr FCA Cooper Parry Group Limited Cubo Birmingham 41h Floor Two Chamberlain Square Birmingham B3 3AX Date.. 22 October 2025
Docusign Envelope ID.. 6DADCFEF-E1744EB&923f&29CC8A20299A THE SHOE ZONE TRUST Statement of Financial Activities For the year ended 31 December 2024 2024 2024 Unrestricted Restricted 2024 Total 2023 Total Notes INCOME FROM Shoe Zone Retall Ltd Donations Interest 582,321 1,325 5,003 582,321 1.325 5,003 748,904 1,285 4,099 TOTAL INCOME 588,649 588,649 754,288 EXPENDITURE ON Direct charitable giving Indirect charitable giving 347,539 9,879 347.539 9.879 281,702 TOTAL EXPENDITURE 357,418 347,539 281,702 TRANSFERS BETWEEN FUNDS 3.138 (3,138) NET MOVEMENT IN FUNDS 231,231 231,231 472,586 FUNDS BROUGHT FORWARD 1,280,009 3.573 1,283,582 810.996 FUNDS CARRIED FORWARD 1,514,378 435 1.514,813 1,283,582 The notes on pages 8 to 11 form part of these financial statements.
Docusign Envelope ID.. 6DADCFEF-E1744EB&923f&29CC8A20299A THE SHOE ZONE TRUST Balance Sheet As at 31 December 2024 2024 2023 Note CURRENT ASSETS Debtors Cash at bank 908,417 606,396 335,975 947,607 NET AND CURRENT ASSETS 1,514,813 1 283 582 CHARITY FUNDS Unrestricted funds Restricled funds 1.514.378 435 1,280,009 3.573 TOTAL FUNDS 1,514,813 1,283,582 The financial statements were approved by the Trustees on 20th October 2025 and signed on their behalf by-. Mr C Smith The notes on pages 8 to 11 form part of these financial statements.
Docusign Envelope ID.. 6DADCFEF-E1744EB&923f&29CC8A20299A THE SHOE ZONE TRUST Statement of Cash Flows For the year ended 31 December 2024 2024 2023 Note Cash flows from operating activities: Net cash provided by operating activities (341,211) 136,611 Net cash provided by operating activities 341,211 136,611 Change in cash and cash equivalents in the year (341,211> 136,611 Cash and cash equivalents at the beginning of the year 947.607 810.996 Cash and cash equivalents at the end of the year 606,396 947,607 RECONCILIATION OF NET INCOMING RESOURCES TO NET CASH INFLOW FROM OPERATING ACTIVITIES 2024 2023 Net incoming resources 231,231 472, 586 Increase in debtors (582,321) (335,975) Decrease in debtors 9,879 Net cash inflow from operating activities (341,211) 136,611 ANALYSIS OF CHANGES IN NET FUNDS At1 January 2024 Cash flow At31 December 2024 Net cash Cash at bank 947,607 {341,211) 606,396 Total 947,607 (341,211) 606,396
Docusign Envelope ID.. 6DADCFEF-E1744EB&923f&29CC8A20299A THE SHOE ZONE TRUST Notes to the Financial Statements For the year ended 31 December 2024 1. ACCOUNTING POLICIES 1.1 Basls of preparation of financial statements The financial statements have been prepared under the historical cost convention. The financial statements have been prepared in accordance wth the Statement of Recommended Practice {SORP) 'Accounting and Reporting by Charities. applicable to charities preparing their accounts in accordance with the Financial Reporling Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Charitles Act 2011 anu appllcable regulalions. The accounts have been prepared under the historical cost convention with items recognised at cost or transaction value unless othetwise stated in the relevant note(s) to the accounts. The trust constitutes a public benefit entity as defined by FRS 102. 1.2 Fund accounting The unrestricted funds are funds which can be used in accordance with the charitable objectives at the discrelion of the Trustees. Reslricled funds comprise unexpended balances of donations and grants held on trusi for speclflc purposes. 1.3 Incoming resources All incoming resources are included in the Statement of Financial Activities when the charity has an entitlemenl to the funds after any performance condilions have been met, the amount can be measured reliably. and the income will probably be received. 1.4 Resources expended Expenditure is accounted for on an accruals basis and has been included under expense categories that aggregate all costs for allocation to activities. where costs cannot be directly attributed lo particular activities. they have been allocated on a basis consistent with the use of the resources. Grants payable to third parties are within the charitable obj-ectives. Where unconditional grants are offered, these are accrued as soon as the recipient is notified of the grant. as this gives rise to a reasonable expectation that the fecipient will receive the grant. Where grants are conditional, the grant is only accrued where any unfulfilled conditions are outside the charity's control. 1.5 Going concern At the time of approving the financial statements. the Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. Thus. the Trustees, continue to adopt the going concern basis of accounting in preparing the financial statements. 1.6 Flnanclal Instruments The Trust only has financial assets of a kind that qualify as basic financial instruments. Basic financial Instfuments are initially recognised at transaction value and subsequently measured at their settlement value. 1.7 Cash at bank and in hand Cash at bank and in hand on the balance sheet comprises cash in hand and short term deposits with an original maturity date of three months or less.
Docusign Envelope ID.. 6DADCFEF-E1744EB&923f&29CC8A20299A THE SHOE ZONE TRUST Notes to the Financial Statements For the year ended 31 December 2024 2. Donations Total 2024 Total 2023 Donations 1,325 1,285 1,325 1,285 Donations of £1,325 (2023: £1,285) were allocated to unrestricted funds. 3. Shoe zone Retail Ltd Total 2024 Total 2023 Profit Contribution Carrier Bag Income 194,000 388,321 320,000 428,904 582,321 748,904 The above income of £582.321 (2023: £748,904} was allocated to unrestricted funds.
Docusign Envelope ID.. 6DADCFEF-E1744EB&923f&29CC8A20299A THE SHOE ZONE TRUST Noto8 to tho Financial Statements For the year ended 31 December 2024 4. Direct Charitable Giving Total Total 2024 2023 Separate Disclosure Shepherds of the Hills - Philippines Miracle Feet Ministries Without Borders- Philippines LOROS CORD The Hope Foundation 69,410 48.479 36,173 35,000 18,000 31,024 9.944 29,983 33,000 25,000 Grouped Local Beneficiaries National Beneficiaries Global Beneficiaries Bank Charges 101,355 18,000 30,967 89,883 10,000 52,649 219 357,418 281,702 In 2024. all expenditure was allocated to unrestricted funds {2023'. all). 5. Net Incoming Resources During the year. no Trustees received any remuneration. During the year, no Trustees received any benefits in kind. During the year, no Trustees received any reimbursement of expenses. 6. Debtors Total 2024 Total 2023 Accrued Income Accrued Charitable Giving 918,296 (9.879) 335,975 908,417 335,975 io
Docusign Envelope ID.. 6DADCFEF-E1744EB&923f&29CC8A20299A THE SHOE ZONE TRUST Notes to the Financial Statements For the year ended 31 December 2024 7. Statement of Funds Opening Balance Closing BalanGe Unrestricted Funds Income Expenditure Transfers Accrued Charity Funds Accrued Charitable Giving Charity Funds 335,975 582,321 918,296 (9,879) 605,961 (9,879) (347,539) 944,034 6,328 3,138 1.280.009 588.649 357.418 3.138 1.514,378 Restricled 3,573 3,573 (3, 138) 3,138 435 Total 435 1,283,582 357,418 1,514,813 In 2024, £3.138 was recategorised from restricted to unrestricled funds in line with the underlying nature of the income reived, leaving £435 as restricted in nature for Shepherds of the Hills (SOTH}. 8. Related Party Transactions The Trustees are Directors of Shoe Zone Retail Limited, who made donations in the year of £582,321 (2023. £748,904). At the yearend. £918.296 remains outstanding from Shoe Zone Retail Limited (2023.. £335,975). The Trust made payments of £148.696 {2023: £99,219) to Shoe Zone Retail Limited during the year in respect of donations made on behalf of the Trust and other transfers of funds. At year end, The Trust owed Shoe Zone Retail Limited £9,879 (2023: nil) in respect of donations made on behalf of the Trust during the year. li